The Cellnex Telecom shopping campaign does not stop, the Spanish public company chaired by Franco Bernabè and by now the acclaimed European queen of telecommunications towers, which at the beginning of the new year made yet another coup official by bringing home the towers of Omtel, the main telecommunications infrastructure operator in Portugal with an enterprice value of 800 million.
Under the agreement reached with Altice Europe and Belmont Infra Holding, Cellnex acquires the entire park of towers and sites, which are currently 3, of Omtel which currently manages a portfolio equal to 25% of the telecommunications towers in all of Portugal.
The operation foresees that in the next 4 years Omtel will build 400 new sites and another 350 by 2017. Cellnex's investment was 140 million euros, which can be financed with liquidity already available and with the company's cash flows, and the acquisition is expected to generate an additional EBITDA of 90 million euros. The Madrid Stock Exchange is rewarding the Cellnex share with a jump of more than 3%.
